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Dec 31, 2021
Deckers Q3 2022 Earnings Report
Deckers' Q3 2022 revenue increased by 10% to a record $1.188 billion, with updated fiscal year 2022 revenue and EPS outlooks.
Key Takeaways
Deckers Brands reported a record third quarter with revenue increasing 10% to $1.188 billion. The company updated its fiscal year 2022 revenue outlook to a growth rate of 19% to 20% and earnings per share outlook to a range of $14.50 to $15.15.
Third Quarter Fiscal 2022 Revenue Increased 10% to a Record $1.188 Billion
UGG brand net sales increased 7.9% to $945.9 million.
HOKA brand net sales increased 30.3% to $184.6 million.
Fiscal Year 2022 Earnings Per Share Outlook Updated to Range of $14.50 to $15.15
Deckers
Deckers
Deckers Revenue by Segment
Deckers Revenue by Geographic Location
Revenue by Segment
HOKA Brand Revenue
CapyFin.comUGG Brand Revenue
CapyFin.comRevenue by Geographic Location
Domestic Sales Revenue
CapyFin.comInternational Sales Revenue
CapyFin.com Forward Guidance
Net sales are now expected to be in the range of $3.03 billion to $3.06 billion. Diluted earnings per share is now expected to be in the range of $14.50 to $15.15.
Positive Outlook
- Net sales are now expected to be in the range of $3.03 billion to $3.06 billion.
- Gross margin is now expected to be at or slightly below 51.5%.
- SG&A expenses as a percentage of sales are still projected to be approximately 34.0%.
- Operating margin is now expected to be approximately 17.5%.
- Diluted earnings per share is now expected to be in the range of $14.50 to $15.15.
Challenges Ahead
- The Company has experienced disruption and delays within its sourcing network related to the COVID-19 pandemic.
- The most significant macro-level supply chain impacts the Company has experienced are extended transit lead times and cost pressures related to container shortages, port congestion, and trucking scarcity that have caused shipping delays and a higher usage of air freight.
- The full effect and duration of disruptions and delays are not yet known, and there are no indicators signaling material improvement near-term.
- Certain facilities are experiencing operational challenges that may cause further delays and cost pressures in future periods.
- The Company's wholesale partners and third-party logistics providers are also experiencing capacity constraints and labor shortages, which are having and may continue to have an adverse effect on the Company's operations.
Revenue & Expenses
Visualization of income flow from segment revenue to net income